Calls for a forensic audit to look into a controversial multi-million dollar loan from CMHC were met with cheers from over 300 Blind River residents on Thursday evening. The demands stirred the ire of Mayor Sue Jensen who rejected the need of a forensic audit. On Thursday evening residents had their first opportunity to publicly address local politicians and municipal owned energy company- North Shore Power Group to lay concerns and opinions on the table.
The mayor of an Ontario town that’s on the hook for a controversial $49.5-million loan from the Canada Mortgage and Housing Corp. is rejecting calls for a forensic audit of its power utility.
Blind River Mayor Sue Jensen made the comments this week at a public meeting that was residents’ first chance to publicly question their town council and the municipality’s North Shore Power Group about the deal.
A substantial portion of the CMHC loan was invested in Ottawa-based Plasco Energy Group, which has subsequently sought creditor protection. Blind River — a town of 3,500 people — is now owed $17.92 million, according to court documents.